Recently, the European Union (EU) approved the proposed $41.1 billion merger between Schering-Plough (SGP) and Merck & Co. (MRK). The deal is awaiting approval from the U.S. Federal Trade Commission. The transaction is expected to close in the fourth quarter of this year. While approving the merger, the EU clarified that the tie-up will not hinder effective competition significantly in Europe, even though both participants in the merger operate in the field of prescription pharmaceuticals. While checking for overlaps in Europe, particularly in the fields of asthma and allergic rhinitis, the European body did not find the products to be close competitors. Consequently, the merger would not be considered to hog the market and choke other companies. As a reminder, Merck filed for EU approval last month after the completion of the sale of its 50% interest in animal health company Merial Limited (Merial) to ...

Yesterday, Merck & Co. (MRK) announced that it is seeking approval from the European Union (EU) for its $41.1 billion acquisition of Schering-Plough Corp. (SGP). The regulatory authorities in the EU are expected to pass a verdict on the matter by Oct. 23. Merck filed for approval of the merger in the EU after the completion of the sale of its 50% interest in animal health company Merial Limited (Merial) to Sanofi-Aventis (SNY) for a cash consideration of $4 billion ( US ). As a reminder, Merial was founded in 1997. It was a 50/50 joint venture between Merck and Sanofi-Aventis and is now a wholly owned subsidiary of the latter. In 2008, Merial was ranked third in the animal health market, with a market share estimated at 13.8% and sales of $2.7 billion just behind Schering’s animal health business, which registered sales ...

King Pharmaceuticals Inc. (KG) recently received the US Food and Drug Administration’s (FDA) approval for marketing Embeda, its new drug for moderate to severe chronic pain. The company plans to launch the product next month.

Embeda is made of morphine and naltrexone, with morphine being its primary ingredient. When the pill is taken as directed, it releases morphine that relieves pain. When the pill is crushed or chewed, it releases naltrexone, thereby reversing the subjective and analgesic effects of morphine.

The approval will boost the company’s top line. Embeda has been under FDA review since June 2008. King acquired Embeda through its acquisition of Alpharma Inc.

King Pharmaceuticals is a vertically integrated pharmaceutical company that focuses on the development and marketing of branded prescription pharmaceutical products and animal health products. The company primarily focuses on specialty markets, particularly specialty-driven branded prescription pharmaceutical markets.

The company is in the

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MWI Veterinary Supply, Inc. (...